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COMPUCREDIT CORP, (CCRT) Stock Research Free Stock Rating
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CompuCredit principally provides credit and related financial services and products to consumer credit market, as well as to unbanked consumers. The company operates through four segments: Credit Cards, Investments in Previously Charged Off Receivables, Retail Micro-Lending and Servicing, and Other. The Credit Cards segment consists of the company's credit card lending and servicing activities, which include receivables underlying accounts originated and receivables underlying portfolios purchased by the company. This segment markets unsecured general-purpose Visa and MasterCard credit cards, including its Aspire Visa credit card and Emerge MasterCard, principally through an agreement with Columbus Bank and Trust Company. The Investments in Previously Charged Off Receivables segment consists of the company's debt collection subsidiary that bids for, and acquires previously charged off credit card receivables. The Retail Micro-Lending and Servicing segment consists of a network of storefront locations that provide either directly or on behalf of a lending bank, small-denomination, short-term, and unsecured cash advances that are due on the customers' next payday. As of December 31, 2004, this segment made micro-loans directly to customers in 355 of the 482 locations in 10 states, and acted as a processing and servicing agent for the lending bank in the remaining 127 locations in 4 states. The Other segment offers micro-loans through various channels, including direct marketing, telemarketing, and the Internet; as well as stored-value card and merchant credit activities. CompuCredit was formed by David G. Hanna and Richard W. Gilbert in 1996. The company is based in Atlanta, Georgia.
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